Hungary will potentially be ready to join the eurozone by the end of next year. This was expressed by Arpad Kovacs, head of the Hungarian Financial Council. TASS.
“Hungary will be able to meet the Maastricht criteria by the end of 2024,” he said in his speech at the Chamber of Commerce and Industry.
According to Kovacs, these criteria are determined by the 1992 European Union Treaty, and according to them, the financial and economic indicators necessary for the country’s participation in the eurozone are regulated. According to their values, the stability of the financial system, the price level and the volatility of the exchange rate are evaluated.
The head of the Hungarian Financial Council claims that by the summer of next year the consumer price increase in the country could fall to 3 percent, the public debt will fall below 70 percent of GDP and the budget deficit will be about 2.9 percent.
According to his forecast, the GDP growth of the republic in 2023 will be about 1%, but in 2024 it will already rise to 3.5-4%.
With a similar estimation, Kovacs spoke I came back in May.
The eurozone is all the states in whose territory the main state currency is the euro and that has the right to issue euro-denominated banknotes. The Eurozone includes 17 European countries.
Eastern Europe before will stay There are no euros.